My ebook Sack the Economists and Disband their Departments is now available.
Mainstream economists completely failed to anticipate the financial market crash of 2007-8. They then called it an unforeseeable event. This is a clear admission that they don’t understand how economies work. Yet many non-mainstream, marginalised economists gave clear warning of the approaching crash. This book shows how mainstream economics has not one but many fundamental flaws. It is not a science, it is pseudo-science. It lacks scholarly rigour and integrity. Once you understand this, it is not a mystery why the mainstreamers missed the approaching crash, nor why wealth is so unequally distributed, why we are so materialistic and unfulfilled, and why the planet is being destroyed. But modern knowledge and systems ideas reveal market economies to be self-organising systems, and they can be managed to support dignified livelihoods in equitable societies that can survive into the indefinite future, with nature thriving along with them.
See more at the book’s web site, including how to purchase your copy.
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Geoff, just bought your book and looking forward to read.
Meanwhile, the World Forum on Natural Capital just took place in Scotland – I have written on this – http://jeffkaye.wordpress.com/2013/11/27/being-cynical-about-natural-capitalism/.
Be interested to get your take on this.
Thanks Jeff. From my book “You can put a dollar value on the timber in a forest, but you can’t put a dollar value on the healthful and aesthetic experience of being in a mature forest, nor on its biodiversity, without which the Earth would be a less effective life support system. Nor can you put a dollar value on the medicines that might at some future time be discovered in plants that grow in the forest.”
So I agree, putting a price on everything is quite misguided. We should certainly estimate the quality or condition of our environment as best we can, though. Fundamentally, a price can only be determined in the act of exchange, and I don’t want to exchange the biosphere for anything else, thank you very much.